HON trading plan outlines long position strategy for NASDAQ stock

A technical trading plan has been outlined for HON, a US stock listed on the NASDAQ. The strategy utilizes a 4-hour timeframe and suggests a long entry near the market price of 203.50.

The plan includes a strict stop-loss level at 198.00, establishing a fixed risk-reward ratio of 1:8.85. Profit-taking is structured in three stages, with targets set at 220.00, 235.00, and 250.00. The strategy involves reducing position sizes at each target and moving stop-loss orders forward to secure gains while allowing a final portion of the position to follow the trend.